ABSTRACT
Labour markets provide a special input into production, namely labour power. Obviously, labour power cannot be disconnected from the human beings that have this power. Therefore, the use and reward of labour power is even more embedded in the social relations of power asymmetries and cooperation than is the case for other factors of production. Human labour power is also referred to as human capital, which is a production factor consisting of skills, experience, and capacities. This is a limited concept, reducing human labour power to a capitallike production factor, as if it were a container of human resources to be used similarly to financial capital. Human capability is a more appropriate term and refers to the skills and capabilities of human beings which can be transferred through labour into productive activity. This can be done in endless ways: paid and unpaid, with dedication or automated, highly productive or wasteful, and under a wide variety of conditions impacting on the productivity of labour.
